Yearly Archives - 2012

Ten Financial Tips for University Graduates

We dedicate this post to Graduating Classes of 2012. Congratulations! You made it! You studied well, worked hard and now it is time to embark onto the next leg of your journey. At this stage, you are probably thinking of finding employment. I am sure you will choose well and find a job you will enjoy. Upon landing your first job, you will be faced with the excellent challenge of managing your money. You will have a sense of financial independence when you [...]

Ten Financial Tips for University Graduates

We dedicate this post to Graduating Classes of 2012. Congratulations! You made it! You studied well, worked hard and now it is time to embark onto the next leg of your journey. At this stage, you are probably thinking of finding employment. I am sure you will choose well and find a job you will enjoy. Upon landing your first job, you will be faced with the excellent challenge of managing your money. You will have a sense of financial independence when you [...]

Five Steps to Creating a Personal Net Worth Statement

What is a Net Worth Statement? A net worth statement is a financial statement used to list an individual’s or family’s assets and liabilities. Assets are valuables owned by a person, while liabilities are monies owed by a person. The Net Worth Equation Net worth is calculated by subtracting total liabilities from total assets. Net Worth = Assets – Liabilities If you liabilities are greater than your assets, you are considered to have a Deficit Net Worth. Deficit Net Worth: Liabilities > Assets Why are net worth [...]

Three Reasons Why Cash Flow Statements are Important to Business Owners

A Cash Flow Statement is a financial statement used to report a company’s source and use of cash. Sources of cash are called cash inflows, while monies used are called cash outflows. A cash inflow can be described as money flowing into the company. Examples of cash inflows include: Capital investment Sales Dividends Interest On the other hand, a cash outflow can be described as money flowing out of the company. Examples of cash outflows include: Equipment purchases Loan payments Salaries Taxes There are three very important reasons why a cash flow statements [...]

Five Steps to Creating a Budget for Your Small Business

One aspect of running a successful business is the implementation of a comprehensive financial management system. As a business owner, you need to know how much you are making (revenue) and how much money you are spending (expenses). With the implementation of this system, you will be able to ascertain whether you have made a profit or loss. One of the most beneficial tools you can install into a business’ financial system is a budget.  It is simply a tool [...]

Preparing Your Children for College

The best way to prepare your children for college, is to involve them in the planning process. Here are some suggestions we have to offer: Guide your children into their field of study. Find out what makes them tick. You have known them their entire life and you know their strengths. Start today by finding out what they want to be when they grow up. Do not pressure yourself to send your children to a university. If they are interested in being [...]

Debt Be Gone!

Are you in need of simple debt management strategies and smarter ways of repaying your debts? Are you ready to alter to your spending habits to clear your debts? Today, I will show you how this can be done. But first let us discover the meaning of the word debt. Debt is money owed by you to be repaid to an individual, lending or financial institution who lent you the money. A debtor is an individual who owes the money borrowed, and a [...]

Debt Be Gone!

Are you in need of simple debt management strategies and smarter ways of repaying your debts? Are you ready to alter to your spending habits to clear your debts? Today, I will show you how this can be done. But first let us discover the meaning of the word debt. Debt is money owed by you to be repaid to an individual, lending or financial institution who lent you the money. A debtor is an individual who owes the money borrowed, and a [...]

What You Didn’t Plan For

I am a huge fan of making plans. I love to take out my organiser and see what’s ahead for the coming week. I always like to know the plans that I have set in place, will indeed occur at that specific moment. However, there are times when my plans do not always come to fruition.  I for one am not a huge fan of surprises, particularly those challenging surprises. Sometimes what I planned to do will have to take [...]

What You Didn’t Plan For

I am a huge fan of making plans. I love to take out my organiser and see what’s ahead for the coming week. I always like to know the plans that I have set in place, will indeed occur at that specific moment. However, there are times when my plans do not always come to fruition.  I for one am not a huge fan of surprises, particularly those challenging surprises. Sometimes what I planned to do will have to take [...]